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• <br />(C) other similar conditions. <br />lit adrlitron to the variety of plrysically blighting <br />factors iii this area, i~r which the Housing <br />Program will be located, the area is replete -vith cr <br />var~ery of similar blighting social and economic <br />factors that continue to decline this area. <br />(4) The public health and welfare will be benefited by <br />accomplishment ot~the program. <br />The foccrsed attention of this housing program with the <br />expected residential and commercial development will <br />eliminate the blighting influences in this area and serve <br />as a nromentinrr factor in improving adjacent areas. <br />(5) The accomplishment of the program will be of public <br />utility and heneG~ as measured by: <br />(A) the provision of adequate housing for low and <br />moderate incoil~e persons; <br /> <br />The Triangle Residential Project is proposed to be <br />cr multi-economic a~ul diverse housing progrunr <br />area that kill create new housing opportunities for <br />low acrd moderate income persons. <br />(B) an increase in the property tax base; or <br />The proposed residential and commercial <br />development will be of srrbst~uitial uicrease <br />compared to die ~risting property tax base. But <br />for die increased property t«,r revenue projected to <br />be generated fi•onr body the residential and <br />connnercial dei~elopnrents, redevelopment of this <br />area would be an economic impossibility. <br />(C) other similar public benefits. <br />LJ <br />The creation of the Eddy Street Commons <br />commercial area will serve as not only a <br />neighborhood focal point as well as a retail <br />destinatio~r location. The reside~rtial aspects of <br />this e~itire project will serve as a tremendous <br />opportunity to improve dre laoacsiiig stock of the <br />City of South Bend for a variety of income levels. <br />10 <br />